Hup Seng Industries Bhd. said its third-quarter normalized net income came to 9.7 million ringgits, a rise of 79.1% from 5.4 million ringgits in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 15.0% from 9.7% in the year-earlier period.
Total revenue climbed 15.3% year over year to 64.4 million ringgits from 55.9 million ringgits, and total operating expenses grew from the prior-year period to 49.0 million ringgits from 47.2 million ringgits.
Reported net income increased 85.0% on an annual basis to 11.6 million ringgits, or 1 sen per share, from 6.3 million ringgits, or 1 sen per share.
As of Nov. 17, US$1 was equivalent to 4.39 ringgits.